SM Energy Company Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 03, 2023 at 01:47 am IST
Share
SM Energy Company reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 640.9 million compared to USD 835.45 million a year ago. Net income was USD 222.34 million compared to USD 481.24 million a year ago. Basic earnings per share from continuing operations was USD 1.89 compared to USD 3.91 a year ago. Diluted earnings per share from continuing operations was USD 1.88 compared to USD 3.87 a year ago.
For the nine months, revenue was USD 1,765.16 million compared to USD 2,687.33 million a year ago. Net income was USD 570.77 million compared to USD 853.49 million a year ago. Basic earnings per share from continuing operations was USD 4.77 compared to USD 6.98 a year ago. Diluted earnings per share from continuing operations was USD 4.75 compared to USD 6.87 a year ago.
SM Energy Company s an independent energy company. The Company is engaged in the acquisition, exploration, development, and production of oil, gas, and natural gas liquid (NGL) in the state of Texas. The Companyâs asset portfolio is comprised of assets in the Midland Basin of West Texas and in the Maverick Basin of South Texas. The Companyâs Midland Basin assets are located in the Permian Basin in West Texas is comprised of approximately 110,000 net acres and include its RockStar assets in Howard and Martin Counties, Texas, its Sweetie Peck assets in Upton and Midland Counties, and Klondike assets in Dawson and northern Martin counties (Midland Basin). Its South Texas assets are comprised of approximately 155,000 net acres located in Dimmit and Webb Counties, Texas (South Texas). The Companyâs operations in South Texas are focused on production from the Eagle Ford shale formation and Austin Chalk formation, and further development of the Austin Chalk formation.